AEM says sales orders for FY2019 hit $174m

SINGAPORE - Test-handling machine supplier AEM Holdings on Thursday night (March 21) said it has received sales orders worth $174 million as at March 21 for delivery in fiscal year 2019. This is up from the $140 million in sales orders previously announced in February.

For the three months ended Dec 31, the group's fourth-quarter net profit plunged 54.8 per cent to $4.4 million, as revenue slipped 33.4 per cent to $39.3 million.

This comes as revenue from its equipment systems business segment fell 33.5 per cent to $38.2 million, due to a reduction in orders from its main customer, and revenue from its precision components business declined 27 per cent to $1.1 million, due to a decrease in customer demand and utilisation of capacity for components manufacturing.

Earnings per share for the three-month period stood at 1.62 Singapore cents, after adjusting for a bonus issue. The group issued about 205 million bonus shares on June 4, 2018.

Shares in AEM Holdings closed flat at $1.19 apiece on Thursday.

For the full year, net profit was up 6.4 per cent to $33.5 million, as revenue gained 18.4 per cent to $262.3 million.